Oppenheimer starts coverage on Doma with 'outperform', shares jump

Doma Holdings

17/09/2021 16:36

** Shares of real estate tech co Doma Holdings Inc  DOMA.N 
up as much as 16% at $9.10 after Oppenheimer initiates coverage
with 'outperform' rating
    ** DOMA, which uses automation to provide real estate
transaction solutions, last up ~5% at $8.20
    ** Brokerage sets PT at $11, implying an upside of ~40% to
DOMA's last close at $7.84 
    ** Says DOMA is well positioned to capitalize on
digitization of the highly time-consuming residential real
estate closing process
    ** With adoptions of digital closings still in infancy, we
anticipate a long runway, as agencies realize the efficiencies
of automation - Oppenheimer 
    ** Up to Thursday's close, DOMA was down ~4.4% from its
opening price on July 29, when it went public through a SPAC
merger
 

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))